Skip to main content

View Diary: Won't someone PLEASE think of the 'poor rich' people? (90 comments)

Comment Preferences

  •  Well, we can always go back to the way it was (1+ / 0-)
    Recommended by:
    Hirodog

    in the "good ol' days" after WW2, with that solid republican, Dwight Eisenhower and the 90% income tax rate.

    I also find these sorts of percentage-based arguments so disingenuous.  "How can it possibly be fair that these folks have to pay 20% of their income in taxes, and these 47% don't have to pay any....?"

    Well, let's see; it's because those 47% make so little money it's basically all being spent--which is a good thing for the country in that spending money is what drives the economy, albeit it's not so good for those 47% because they're essentially running in place in terms of savings and economic advancement.  No, they're not paying taxes because if the govt took any more of their money they would probably fall into a category of requiring additional funds to survive.

    Meanwhile, the wealthy paying only 20% income tax are still well enough off that they're able to buy what they need and bank the rest.  So essentially they're beef boils down to not wanting to pay 20% in taxes because it doesn't let them save as much money or keep with the next level of Joneses as quickly.

    Every economy and society has a threshold level of what it takes to survive/get by; by arguing percentages as what constitutes "fair" vs. "unfair", these people ignore that reality.  20% tax rate means very different things in terms of family survival for someone making $25k per year vs. someone making $250k.

    "When and if fascism comes to America...it will not even be called 'fascism'; it will be called, of course, 'Americanism'" --Professor Halford E. Luccock of Yale Divinity School; New York Times article from September 12, 1938, page 15

    by demongo on Mon Mar 04, 2013 at 08:32:17 PM PST

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site